Archimej Technology raised 1.9 million Euros to boost the development of its flagship project line : Beta-Bioled

Evry, France – December 7th, 2015. Archimej Technology, a French innovative company focused on the development of portable blood analyzers for personal medical diagnostic, announced today the closing, on October 31, 2015, of a 1.9 Million Euros equity investment by two major Chinese and Hongkongese investors plus a Chinese opinion-leader in In-Vitro Diagnostic (IVD).

The world is facing a major challenge in the medical and diagnostic sector : Population expansion and aging, increase of chronic-conditions, cost savings needed by social securities, coverage of medically underserved regions... are so many reasons for the current, and yet to come, huge need for decentralized diagnostics and analysis solutions. On top of that, the impact of the digital era, with the wish for instant access to health- status, even in times of well-being, makes it is easy to understand why everyone seeks for portable solutions allowing the widely and much wanted patient autonomy.

Archimej Technology was created in 2012 to develop and commercialize its disruptive proprietary technology with potential applications in the medical, food and environment sectors. Aware of the huge potential of its technology, enabling easy access to medical care and preventive medicine ; Archimej Technology focused from its beginning on the Personalized Medicine industry, by applying its technology to the field of clinical chemistry. This led the company to develop, from 2013, the very first mobile and personal blood analyzer for home-use.

The so-called Personalized Medicine is an emerging industry with an enormous growth potential. According to Grand View Research, its global market is expected to reach 49 billion dollars by 2020, knowing a CAGR of 47,6%, between 2014 and 2020. The Mobile Monitoring Services is the "dominant and fastest growing" market segment of the industry. This segment is estimated to hit revenues of 31 billion dollars in 2020 with a predicted CAGR of 49.7% between 2014 and 2020.

Since early 2015, Archimej’s analytical technology has been successfully tested and validated within a clinical environment, backed by a medical laboratory partner. Currently, Archimej Technology is leading the development of its first products with a pilot production and an on-field-test phase scheduled for the second half of 2016. « The additional funds just raised will allow us to accelerate our growth and the development of our first product for pediatric use » reveals Mejdi Nciri, founding CEO. Most of the funds will cover R&D expenses and allow the company to start with the regulatory process for its first product, together with a key IVD industrial who’s backing the process. This financing also strengthens the presence of the start-up on the international scene, particularly in China, where Archimej Technology plans to first launch the commercialization of this product.

About Archimej Technology :
Founded in 2012 by a team of five young entrepreneurs, Archimej Technology has been established as an innovative breakthrough technology company in France and China. The start-up is dedicated to the development and the promotion of its disruptive proprietary technology : Spectroscopy 2.0®, the only existing technology to produce miniaturized and low-cost spectrometers with unprecedented measurement performance. Archimej Technology is now applying the Spectroscopy 2.0® to the medical sector with the development of Beta-Bioled.

About Beta-Bioled :
Beta-Bioled covers a line of products under development that will allow the democratization of blood-chemistry analyses, which are at the very heart of most medical decisions regarding a patient. Each product is composed of an analyzer and its one-blood- drop test-strips that will be at the reach of general public. They will allow everyone (including healthcare professionals) to perform clinical grade analyses, quickly and simply from anywhere and without any particular training required.

Contact :
Francisco Vega - CFO & VP Corporate Strategy
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